It is a well-known fact that national banks have a decisive influence on the exchange rate. Yesterday's major refinancing operations (MRO) led to the continuation of the upward movement on the EUR/USD pair.
The opening of today's European trading above yesterday's indicates that the upward momentum is supported by the Central European Bank. It is still difficult to say how long the growth will last, however, any decline to the bank level of 1.1734 should be considered as an opportunity to buy an instrument.
Our task is to find a pattern for buying a tool as close as possible to the banking level. If this is successful, then purchases can be held until next Wednesday. It makes sense to make partial fixes when testing the round level of 1.1800.
The work in the downward direction should be suspended for the time being. To break the upward momentum, the formation of the "engulfing" pattern of the daily level will be required.
Good luck!The material has been provided by InstaForex Company - www.instaforex.com